Overview
- Gemini Digital Payments Singapore was granted a Major Payment Institution licence by the Monetary Authority of Singapore, a decision confirmed on Wednesday that moves the company from a temporary exemption to full local authorisation.
- The licence authorises regulated digital payment token services and cross‑border money transfers, meaning the local entity can scale transaction volume beyond the limits set for ordinary payment institutions.
- MPI status removes routine volume caps but requires stronger controls, including enhanced anti‑money‑laundering checks, customer due diligence, technology‑risk management and regular regulatory reporting.
- Gemini transferred Singapore customers to its locally incorporated entity in April 2025 while seeking full approval, and the new licence applies only to that Singapore entity and the services MAS listed.
- The approval places Gemini alongside other international crypto firms with MPI licences in Singapore and could lead to expanded local product rollouts or hiring, though the company has not yet announced any new services or disclosed local user or volume figures.